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The Central Bank: The new 20,000 dinars currency will be introduced at the end of 2023


6ly410
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The Central Bank of Iraq announced on Sunday that the meetings of the International Monetary Fund mission will be held in the Iraqi capital Baghdad next Wednesday and Thursday.

The Director of the Media Office of the Central Bank of Iraq, Omar Assem, said in a statement to the official agency followed by (First News), that "the meeting will be held Wednesday and Thursday of this week in the presence of the Governor of the Central Bank Mustafa Ghaleb Makhif, Minister of Finance Taif Sami and the IMF mission team with the invitation of representatives of the ministries of planning, electricity, labor, water resources and environment in the meeting," noting that "the meeting on its first day will focus on the main policy challenges."

"On the sidelines of the visit, the mission will hold its meeting on the second day with the Iraqi Company for Financing Small and Medium Enterprises, Vitas and a staff from the Banking Control Department at the Central Bank of Iraq," Asim said.

He stressed that "the mission's meeting with the Central Bank of Iraq aims to develop the work of the banking sector in Iraq, especially as it has gained international confidence and enhanced financial inclusion as well as strengthening global monetary cooperation and ensuring financial stability."

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The Central Bank hosts the meetings of the International Monetary Fund mission in Baghdad

2818B3C6-8745-40FC-9F4E-4EE5CCD3CE05-810
 
News source / Al Oula News Agency

(Encyclopedia of Iraq News for News)

Today, Sunday, the Central Bank of Iraq announced that meetings of the International Monetary Fund mission will be held in the Iraqi capital, Baghdad, on Wednesday and Thursday.

The director of the media office of the Central Bank of Iraq, Omar Assem, said in a statement to the official agency, followed by (Al-Oula News), that “the meeting will take place on Wednesday and Thursday of this week, in the presence of the Governor of the Central Bank, Mustafa Ghaleb Makhaif, the Minister of Finance, Taif Sami, and the International Monetary Fund mission team, with the invitation of representatives of the ministries.” planning, electricity, labor, water resources and the environment in the meeting,” noting that “the meeting, on its first day, will focus on major policy challenges.”

Asim added, "On the sidelines of the visit, the mission will hold its meeting on the second day with the Iraqi Company for Financing Small and Medium Enterprises, Vitas Company, and a staff from the Banking Control Department at the Central Bank of Iraq."

He stressed, "The mission's meeting with the Central Bank of Iraq aims to develop work in the banking sector in Iraq, especially as it has gained international confidence and enhanced financial inclusion, as well as strengthening global monetary cooperation and ensuring financial stability."

 

 

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Iraq news now

For the first time since the decision of the Central Bank. $100 jumps over 150,000 dinars in Baghdad

1663668068_1649584414525-810x439.jpeg


2022-12-04T10:18:14.000000Z
 

Shafaq News / The exchange rates of the US dollar against the Iraqi dinar rose today, Sunday, on the main stock exchange in the capital, Baghdad, to exceed 1500 dinars against one dollar.

The correspondent of the Shafaq News Agency said that the central exchanges of Al-Kifah and Al-Harithiya in Baghdad, recorded at one o'clock this afternoon 150,100 Iraqi dinars for 100 US dollars.

While the prices this morning were 149,650 Iraqi dinars against 100 US dollars.

Our correspondent pointed out that the buying and selling prices rose in exchange shops in the local markets in Baghdad, where the selling price reached 150,250 Iraqi dinars per 100 US dollars, while the purchase prices reached 149,500 Iraqi dinars per 100 US dollars.

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After recording a jump, the Central Bank takes action to reduce the price of the dollar in the markets

1670160926643.png
%D8%A8%D8%BA%D8%AF%D8%A7%D8%AF-%D8%A7%D9%84%D9%8A%D9%88%D9%85-150x91.png
News source / Baghdad today

 

 Baghdad today-Baghdad

The Central Bank of Iraq decided today, Sunday, to increase its sales of dollars in the currency auction, after the rise in dollar prices to unprecedented levels in the local markets, as today, Sunday, it exceeded 150,000 dinars per 100 dollars, for the first time in two years.

And a document that I viewed (Baghdad Today) showed the central bank’s decision to raise its sales of hard currency for the purpose of meeting the growing demand for dollars in the local markets, by one million and 800 thousand dollars for exchange companies A , 750 thousand dollars for exchange companies B , and 80 thousand dollars for brokerage companies C , And 200 thousand dollars for banks.

 

The bank's step came after the central bank governor's meeting with Prime Minister Muhammad Shia' al-Sudani today, Sunday, where al-Sudani stressed the need to "provide hard currency for citizens in the markets," in a move that came after the rise in dollar prices in the local markets to high levels.

The rise in the exchange rates of the dollar in the local markets came due to the high demand and the lack of supply of the dollar, due to the decrease in the central bank’s sales of hard currency during the past weeks, as it decreased from an average of $200 million per day in the past months, to $130 million per day, due to the sanctions. And restrictions on some large banks that were participating in the currency auction, which led to a decrease in sales and, consequently, a decrease in the supply of dollars in the marke

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Prime Minister

Meet Governor

Mr. Mustafa Ghaleb Makhif, where he directed His Excellency to conduct the necessary treatments to provide foreign currency in the local market in accordance with the legal mechanisms and regulations of the Central Bank, as well as to provide it to citizens wishing to travel or be treated outside Iraq.

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The Central Bank decides to increase the weekly quota of dollar sales7012.jpg

Central Bank of Iraq logo
 

Economy News Special

The Central Bank of Iraq decided to increase the weekly quota of dollar sales to exchange companies.

"Economy News" obtained a document issued by the Central Bank and bearing the signature of Deputy Governor Ammar Hamad Khalaf, and addressed to banks, exchange companies and brokerage companies, which stated, "Based on the objectives of the Central Bank in achieving stability in the general level of prices and exchange rates and to meet the high demand for foreign currency in the local markets, it was decided to increase the weekly share of cash sales from the dollar."

The central bank called on exchange companies to submit applications starting on Monday, as the share of the exchange company of classification A will amount to $ 1.8 million, an exchange company of classification B $ 750,000, a brokerage company of classification C of $ 80,000 and the bank $ 200,000.

He stressed that the Central Bank is ready to meet the needs of all citizens of foreign currencies according to the purposes allowed to be financed, as well as financing electronic payment cards that are used in payment operations outside Iraq at an exchange rate of 1470 dinars to the dollar.

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In the document.. The Central Bank announces an increase in dollar cash sales to reduce its exchange rate and address the current rise

1018077-9d3e3c4c-97ba-4c20-ae30-7dcc00a0
Baghdad / NINA / - The Central Bank of Iraq announced an increase in dollar cash sales to reduce the exchange rate of the dollar and address the current rise.

And the bank affirmed, "its readiness to meet the needs of all citizens of foreign currencies according to the purposes allowed to be funded by law, in addition to financing the electronic payment card that is used in payment operations outside Iraq at an exchange rate of 1470 dinars to one dollar." / End h
 
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After Al-Sudani's directive, the Central Bank begins to take measures to prevent the exchange rate from rising

upload_1670162266_1217675169-810x540.jpe
ina-150x148.jpg
The source of the news / Iraqi News Agency (INA)

 

Baghdad -
The Central Bank of Iraq decided, today, Sunday, to increase weekly cash sales of the dollar, to prevent a rise in the exchange rate after the directives of Prime Minister Muhammad Shia al-Sudani, while confirming its readiness to meet the needs of citizens in foreign currencies.

And the Central Bank stated, in a document that the Iraqi News Agency (INA) obtained a copy of, that “based on the objectives of this bank to achieve stability in the general level of prices and exchange rates and to meet the high demand for foreign currency in the local markets, it was decided to increase the weekly share of cash sales.” From the dollar, as of Monday, corresponding to 12/5/2022.
And he confirmed, "his willingness to finance the electronic cards used for payment operations outside Iraq, at a price of 1470 dinars to one dollar."

And the Prime Minister, Mohamed Shia Al-Sudani, had directed earlier, to conduct the necessary treatments to provide foreign currency in the local market in accordance with the mechanisms and legal systems of the Central Bank.

And the media office of the Prime Minister stated, in a statement received by the Iraqi News Agency (INA), that “Prime Minister Muhammad Shia’ al-Sudani met this morning, Sunday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, and listened to a briefing on the progress of organizational work and the policies of the Central Bank in the financial sectors.” and cash.”

Al-Sudani directed, according to the statement, to “conduct the necessary treatments to provide foreign currency in the local market in accordance with the mechanisms and legal regulations of the Central Bank, and also to provide it to citizens wishing to travel or receive treatment outside Iraq.”

And he stressed, “The continuation of the financial and economic reform program for the financial and banking system, which was included in the ministerial curriculum, to lead the national economy to steady growth, which will positively affect the citizens’ livelihood and their level of financial empowerment.”

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Baghdad hosts the meetings of the International Monetary Fund mission

iraq-news-810x456.jpg
 
News source / Dijla channel

 

Today, Sunday, the Central Bank of Iraq announced that meetings of the International Monetary Fund mission will be held in the Iraqi capital, Baghdad, on Wednesday and Thursday.

The director of the media office of the Central Bank of Iraq, Omar Assem, said, “The meeting will take place on Wednesday and Thursday of this week, in the presence of the Governor of the Central Bank, Mustafa Ghaleb Makhaif, the Minister of Finance, Taif Sami, and the IMF mission team, with the invitation of representatives of the ministries of planning, electricity, labor, water resources, and the environment at the meeting.” Noting that “the meeting, on its first day, will focus on major policy challenges.”

Asim added, "On the sidelines of the visit, the mission will hold its meeting on the second day with the Iraqi Company for Financing Small and Medium Enterprises, Vitas Company, and a staff from the Banking Control Department at the Central Bank of Iraq."

He stressed, "The mission's meeting with the Central Bank of Iraq aims to develop work in the banking sector in Iraq, especially as it has gained international confidence and enhanced financial inclusion, as well as strengthening global monetary cooperation and ensuring financial stability."

 

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Central Bank decides to increase cash sales of the dollar (Document)

Nabaa31 minutes ago
Less than a minute
Central Bank of Iraq

The Central Bank of Iraq decided on Sunday to increase cash sales of the dollar, while stressing its readiness to meet the needs of citizens of foreign currencies.

ABF02F30 D333 421C 9193 E0569D42A9E1
 
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4 minutes ago, 6ly410 said:

After Al-Sudani's directive, the Central Bank begins to take measures to prevent the exchange rate from rising

upload_1670162266_1217675169-810x540.jpe
ina-150x148.jpg
The source of the news / Iraqi News Agency (INA)

 

Baghdad -
The Central Bank of Iraq decided, today, Sunday, to increase weekly cash sales of the dollar, to prevent a rise in the exchange rate after the directives of Prime Minister Muhammad Shia al-Sudani, while confirming its readiness to meet the needs of citizens in foreign currencies.

And the Central Bank stated, in a document that the Iraqi News Agency (INA) obtained a copy of, that “based on the objectives of this bank to achieve stability in the general level of prices and exchange rates and to meet the high demand for foreign currency in the local markets, it was decided to increase the weekly share of cash sales.” From the dollar, as of Monday, corresponding to 12/5/2022.
And he confirmed, "his willingness to finance the electronic cards used for payment operations outside Iraq, at a price of 1470 dinars to one dollar."

And the Prime Minister, Mohamed Shia Al-Sudani, had directed earlier, to conduct the necessary treatments to provide foreign currency in the local market in accordance with the mechanisms and legal systems of the Central Bank.

And the media office of the Prime Minister stated, in a statement received by the Iraqi News Agency (INA), that “Prime Minister Muhammad Shia’ al-Sudani met this morning, Sunday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, and listened to a briefing on the progress of organizational work and the policies of the Central Bank in the financial sectors.” and cash.”

Al-Sudani directed, according to the statement, to “conduct the necessary treatments to provide foreign currency in the local market in accordance with the mechanisms and legal regulations of the Central Bank, and also to provide it to citizens wishing to travel or receive treatment outside Iraq.”

And he stressed, “The continuation of the financial and economic reform program for the financial and banking system, which was included in the ministerial curriculum, to lead the national economy to steady growth, which will positively affect the citizens’ livelihood and their level of financial empowerment.”

So their answer to the weakening dinar against the dollar because there are less dollars in the marketplace and the demand for the US dollar is increasing is to inflate the amount of dollars in the market to decrease the value of it against their toilet paper currency rather than raise the value of their dinar directly to give the citizens more purchasing power. 

Seems like a bandaid that is only going to make the situation worse. Backasswsrds if you ask me. 

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After recording a jump, the Central Bank takes action to reduce the price of the dollar in the markets

1670160926643.png
%D8%A8%D8%BA%D8%AF%D8%A7%D8%AF-%D8%A7%D9%84%D9%8A%D9%88%D9%85-150x91.png
News source / Baghdad today

 

 Baghdad today-Baghda

The Central Bank of Iraq decided today, Sunday, to increase its sales of dollars in the currency auction, after the rise in dollar prices to unprecedented levels in the local markets, as today, Sunday, it exceeded 150,000 dinars per 100 dollars, for the first time in two years.

And a document that I viewed (Baghdad Today) showed the central bank’s decision to raise its sales of hard currency for the purpose of meeting the growing demand for dollars in the local markets, by one million and 800 thousand dollars for exchange companies A , 750 thousand dollars for exchange companies B , and 80 thousand dollars for brokerage companies C , And 200 thousand dollars for banks.

 

The bank's step came after the central bank governor's meeting with Prime Minister Muhammad Shia' al-Sudani today, Sunday, where al-Sudani stressed the need to "provide hard currency for citizens in the markets," in a move that came after the rise in dollar prices in the local markets to high levels.

The rise in the exchange rates of the dollar in the local markets came due to the high demand and the lack of supply of the dollar, due to the decrease in the central bank’s sales of hard currency during the past weeks, as it decreased from an average of $200 million per day in the past months, to $130 million per day, due to the sanctions. And restrictions on some large banks that were participating in the currency auction, which led to a decrease in sales and, consequently, a decrease in the supply of dollars in the market.

 

 

 

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Starting tomorrow. Central Bank of Iraq moves to devalue the dollar (Document)

1667993726916.jpeg
2022-12-04 07:12
 

 

Shafaq News / The Central Bank of Iraq decided, on Sunday, to increase weekly sales of the US dollar in the auction of the currency, in an attempt to restore the exchange rate to its former state.

 

According to a document issued by the bank and seen by Shafaq News Agency, addressed to brokerage companies for the sale and purchase of foreign currencies, it said, "Based on the objectives of this bank to stabilize the general level of prices and exchange rates and to meet the high demand for foreign currency in the local markets, it was decided to increase the weekly share of cash sales of the dollar as of tomorrow, Monday."

The bank affirmed its readiness to meet the needs of all citizens of foreign currencies according to the purposes allowed to be legally funded, as well as financing electronic payment cards that are used in payment operations outside Iraq at an exchange rate of 1470 Iraqi dinars per dollar, while adhering to what is stated in the controls for the sale of foreign currency for the year 2021, as well as the Anti-Money Laundering and Terrorism Financing Law No. 39 of 2015.

According to the document, the bank specified that companies received companies according to their classification, where companies category A receive one million and 800 thousand dollars per week, companies category B receive 750 thousand dollars per week, companies category 80 thousand dollars per week, and banks 200 thousand dollars per week.

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Al-Sudani meets with the Governor of the Central Bank and confirms the continuation of the financial and economic reform program for the financial and banking system

1018034-d6d5ce10-eb7b-4e39-86fa-f759dbec
Baghdad / NINA / - The Prime Minister, Muhammad Shia'a Al-Sudani, met with the Governor of the Central Bank. .


A statement by his media writers said that the Prime Minister, Muhammad Shia Al-Sudani, directed today, Sunday, to conduct the necessary treatments to provide foreign currency in the local market, stressing the continuation of the financial and economic reform program for the financial and banking system.

The statement indicated, "Prime Minister Muhammad Shia' al-Sudani met today, Sunday, with the Governor of the Central Bank, Mustafa Ghaleb Makhaif," and listened to a briefing on the progress of regulatory work and the policies of the Central Bank in the financial and monetary sectors

. The local market according to the legal mechanisms and regulations of the Central Bank, and also to provide it to citizens wishing to travel or receive treatment outside Iraq.

And he stressed, "The continuation of the financial and economic reform program for the financial and banking system, which was included in the ministerial curriculum, to lead the national economy to steady growth, which will reflect positively on the citizens' livelihood and their level of financial empowerment."/ End
 
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Iraq news now

The exchange rates of the US dollar against the Iraqi dinar rise in the main stock exchange in the capital Baghdad

%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B5%D8%
 
News Source /

 

The exchange rates of the US dollar against the Iraqi dinar rose today, Sunday, on the main stock exchange in the capital, Baghdad, to exceed 1500 dinars against one dollar.

The central exchanges of Al-Kifah and Al-Harithiya in Baghdad recorded at one o'clock this afternoon 150,100 Iraqi dinars against 100 US dollars.

While the prices this morning were 149,650 Iraqi dinars against 100 US dollars.

In addition, the buying and selling prices increased in the exchange shops in the local markets in Baghdad, where the selling price reached 150,250 Iraqi dinars per 100 US dollars, while the purchase prices reached 149,500 Iraqi dinars per 100 US dollars.

In late 2020, the Central Bank of Iraq decided to reduce the value of the local dinar against the dollar from 1190 dinars to 1450 dinars, to contain a financial crisis that Baghdad was suffering from due to a significant decline in oil prices due to the repercussions of the Corona pandemic.

The decision caused an increase in prices in the local markets by more than 20 percent, which negatively affected low-income and middle-class people.

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54 minutes ago, keylime said:

So their answer to the weakening dinar against the dollar because there are less dollars in the marketplace and the demand for the US dollar is increasing is to inflate the amount of dollars in the market to decrease the value of it against their toilet paper currency rather than raise the value of their dinar directly to give the citizens more purchasing power. 

Seems like a bandaid that is only going to make the situation worse. Backasswsrds if you ask me. 

Exactly. They are exposing themselves to the masses 👍

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After its price rose in the local market, the central bank is ready to offer more dollars

69388-810x490.jpg
The source of the news / Iraq Agency today

Baghdad - Iraq today:

The Central Bank of Iraq announced an increase in the weekly share of cash sales of the dollar currency, expressing its readiness to meet the needs of all citizens of foreign currencies according to the purposes permitted for financing it legally.

According to a letter issued by the Department of Financial Operations and Debt Management / Department of the Foreign Currency Sale Window at the Central Bank, on Sunday (December 4, 2022), it was decided to increase the weekly share of cash sales of the dollar currency, and requests will be received in this regard starting from tomorrow (5 December 2022).

The Central Bank’s decision included all banks, exchange companies, and mediation companies in buying and selling foreign currency.

The Central Bank of Iraq also confirmed, according to the statement, its readiness to meet the needs of all citizens of foreign currencies in accordance with the purposes allowed to be funded by law, in addition to financing electronic payment cards that are used in payment operations outside Iraq at an exchange rate of 1470 dinars to one dollar, with “compliance with what was stated in the controls.” Selling foreign currency for the year 2021, in addition to Law No. (39) of 2015 on combating money laundering and financing terrorism.

This decision coincides with the rise in the exchange rate of the dollar against the Iraqi dinar, which approached 150,000 dinars for every 100 dollars. It is expected that the bank's decision will contribute to increasing the amount of dollars in the markets, and thus lowering its price to lower levels.

 

 

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The Central Bank of Iraq announced on Sunday that the meetings of the International Monetary Fund mission will be held in the Iraqi capital Baghdad next Wednesday and Thursday.

The Director of the Media Office of the Central Bank of Iraq, Omar Assem, said that "the meeting will be held Wednesday and Thursday of this week in the presence of the Governor of the Central Bank Mustafa Ghaleb Makhif, Minister of Finance Taif Sami and the IMF mission team, with the invitation of representatives of the ministries of planning, electricity, labor, water resources and environment in the meeting," noting that "the meeting on its first day will focus on the main policy challenges."

"On the sidelines of the visit, the mission will hold its meeting on the second day with the Iraqi Company for Financing Small and Medium Enterprises, Vitas and a staff from the Banking Control Department at the Central Bank of Iraq," Asim said.

He stressed that "the mission's meeting with the Central Bank of Iraq aims to develop the work of the banking sector in Iraq, especially as it has gained international confidence and enhanced financial inclusion as well as strengthening global monetary cooperation and ensuring financial stability."

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The Central Bank of Iraq adapts its dollar sales to travelers. Document

1666772565507.jpeg
2022-12-04 10:12

 

 

On Sunday, the Central Bank of Iraq decided to adapt its sales of US dollars to travelers outside the country by $ 5,000.

 

This came in an official book, seen by Shafaq News Agency, issued by the Central Bank of Iraq, and addressed to banks and exchange companies and mediation of the sale and purchase of foreign currencies and carried the title "Cash sales of the dollar to the citizen traveler.

The Central Bank's letter, signed by Deputy Governor Ammar Hamad Khalaf, stated that as a result of the high level of global inflation and the high cost of travel and living globally and to meet the requests of citizens traveling to suit their needs of foreign currency while traveling, the bank decided to increase the ceiling of dollar sales to $ 5,000 per citizen traveling or employee sent during one month.

 

 

1670173967778.jpeg
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in the document. Central Bank decides to increase dollar sales to travelers and the dispatched employee

in the document. Central Bank decides to increase dollar sales to travelers and the dispatched employee
  
{Economic: Al-Furat News} The Central Bank of Iraq decided to increase the sales ceiling for travelers and the dispatched employee to five thousand dollars per month.

The central bank decided today to increase cash sales of dollars and announced its readiness to meet the needs of citizens of foreign currency.

Prime Minister Mohamed Shia Al-Sudani met with the Governor of the Central Bank today and directed to conduct the necessary treatments to provide foreign currency in the local market in accordance with the legal mechanisms and regulations of the Central Bank and provide it to citizens wishing to travel or treat outside Iraq.

24630f8077ed79ae270d27e1e910c727.jpg

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